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During the quarter, higher than expected global can demand driven by customers' shifting mix and new product launches to aluminum packaging helped drive stronger revenue growth. We will continue to navigate short-term start-up inefficiencies and cost inflation to position Ball for the best long-term outcome in advance of contract renewals. In December 2018, the company announced an agreement to sell its beverage packaging facilities in China. "Our focus on commercializing sustainable aluminum packaging solutions across our customers' product categories and leveraging our aerospace capabilities with relevant government customers is translating into additional growth. 4717 0 obj <>stream 4669 0 obj <> endobj Ball Corporation supplies innovative, sustainable packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Join the Conversation. Where will tomorrow take us? See what's coming up and where you can find us. In North America, higher costs related to surplus U.S. aluminum scrap and higher than anticipated plant start-up costs affected first quarter results. %PDF-1.5 %���� Credits in the first quarter of 2019 and charges in the first quarter of 2018 were the result of updated estimates for the costs of employee severance and benefits and facility shutdown costs. Data Provided by Refinitiv. �x`� .��,�d����d�G���w�V6\�*�@���ē@E�l\ K�`Ă��:6M��Ll������@��1h��*�a@,vZ/��+�l&���%�/Jkle\�`�U���7 �Wf`ҭ�zצ3����� ���E$�4#0 ��C� Condensed Financial Statements (First Quarter 2019), Unaudited Condensed Consolidated Statements of Earnings, ($ in millions, except per share amounts), Cost of sales (excluding depreciation and amortization), Business consolidation and other activities, Equity in results of affiliates, net of tax, Net earnings attributable to noncontrolling interests, Net earnings attributable to Ball Corporation. Visit our Learning Center to explore the how and why of cans. Tesla just reported third-quarter results including net income (GAAP) of $331 million on revenue of $8.77 billion. Other consists of non-reportable segments located in Africa, Middle East and Asia (beverage packaging, AMEA) and Asia Pacific (beverage packaging, Asia Pacific) that manufacture and sell metal beverage containers; a non-reportable segment that manufactures and sells aerosol containers, extruded aluminum aerosol containers and aluminum slugs (aerosol packaging); undistributed corporate expenses; intercompany eliminations and other business activities. Total beverage packaging, North and Central America, Rexam acquisition related compensation arrangements (3), Transaction related costs for the China business sale (4), Share of equity method affiliate non-comparable costs (5), Total business consolidation and other activities, Tax effect on business consolidation and other activities. Aerospace comparable segment operating earnings for the first quarter 2019 were $30 million on sales of $328 million, compared to $25 million on sales of $264 million in the first quarter 2018. PRESS RELEASE PR Newswire . In August 2017, the company announced the closure of its beverage can manufacturing facilities in Chatsworth, California, and Longview, Texas, and its beverage end manufacturing facility in Birmingham, Alabama. Quarterly reports are typically filed within a few weeks of a quarter's end. Presentations of earnings and cash flows presented in accordance with U.S. GAAP are available in the company's earnings releases and quarterly and annual regulatory filings. Ball's operations are organized and reviewed by management along its product lines and geographical areas and presented in the four reportable segments outlined below: Beverage packaging, North and Central America: Consists of operations in the U.S., Canada and Mexico that manufacture and sell metal beverage containers. Ball … Quarterly year-over-year segment earnings improvement will continue throughout 2019. Ball Corporation and its subsidiaries employ more than 18,300 people worldwide and reported 2019 net sales of $11.5 billion. Nov. 5, 2020, 12:00 PM . Please see the company's website for further details of the company's non-U.S. GAAP financial measures at www.ball.com/investors under the "FINANCIALS" tab. Ball at a glance. Comparable Operating Earnings is earnings before interest, taxes, business consolidation and other non-comparable costs. In aerospace, new program awards for Ball's space hardware and capabilities will drive additional infrastructure investment and hiring to support multiple years of growth. Given the strength of our cash flow, leverage at optimal levels, last week's dividend increase and our existing repurchase authorization, the company plans to return in excess of $1 billion to shareholders in 2019 and beyond," said Scott C. Morrison, senior vice president and chief financial officer. (NYSE: BLL) today reported, on a U.S. GAAP basis, first. "Beverage can growth appears to be accelerating to levels that are stronger and more sustainable than in the past 25 plus years. Diversity & Inclusion Blog; About Ball. Ball's Revolutionary Lightweight Aluminum Aerosol Technology. Comparable Earnings Before Interest, Taxes, Depreciation and Amortization (Comparable EBITDA), Comparable Operating Earnings, Comparable Net Earnings and Net Debt – Comparable EBITDA is earnings before interest, taxes, depreciation and amortization, business consolidation and other non-comparable costs. The Investor Relations website contains information about Texas Instruments's business for stockholders, potential investors, and financial analysts. Related organisations: ball corporation. Details on our internship/co-op program for developing talent. In the News. In the second quarter 2017, the company closed its beverage packaging manufacturing facility in Recklinghausen, Germany. Positive volume momentum continues as certain customers continue to adjust a portion of their packaging mix to aluminum beverage packaging from single-serve plastics, particularly in the United Kingdom. Events. Ball Reports Strong Third Quarter Results. The Birmingham plant ceased production during the second quarter of 2018, and the Longview and Chatsworth plants ceased production during the third quarter of 2018. Minimum 15 minutes delayed. Ball CorporationBLL reported second-quarter 2020 adjusted earnings of 65 cents per share, beating the Zacks Consensus Estimate of … Ball Corporation BLL is scheduled to report first-quarter 2020 results on May 7, before the opening bell.Which Way are the Estimates Headed?The Zacks Consensus Estimate for Ball … Related topics: financial report. The North American toll-free number for the call is 888-222-3241. International callers should dial 303-223-4392. Posted: 10 August 2020. ", Beverage Packaging, North and Central America. Charges in the first quarter of 2019 and credits in the first quarter of 2018 were the result of updated estimates for the costs of employee severance and benefits and facility shutdown costs. �`H�� Ct`��0�=a0&�����,bt�y�eҁ��!���R ie��HX$�`��0��AI#�4@� References to volume data represent units shipped in respective periods. A summary of Comparable EBITDA and Net Debt is as follows: Earnings before interest and taxes (EBIT), Add: Business consolidation and other activities (a), Add: Amortization of acquired Rexam intangibles (a), Less: Amortization of acquired Rexam intangibles (a), Comparable EBITDA/Interest Expense (Interest Coverage). In December 2018, the company completed the sale of its closed manufacturing facility in Chatsworth, California. Ball Corporation Declares Quarterly Dividend . Aerospace: Consists of operations that manufacture and sell aerospace and other related products and the provision of services used in the defense, civil space and commercial space industries. Includes undistributed corporate expenses, net, of $23 million and $22 million for the three months ended March 31, 2019 and 2018, respectively. Ball's first quarter 2020 comparable net earnings were $202 million, ... First quarter results reflect the 2019 sale of the company's Argentine steel aerosol business and Chinese beverage can assets, and new segment reporting for the company's beverage packaging, EMEA business and other non-reportable results. Discover the many ways we place value on diversity at Ball. Crystal Hinson Miller, chief philanthropy officer for Indiana University Health and president of the IU Health Foundation, is a national leader in healthcare philanthropy. Additional factors that might affect: a) our packaging segments include product demand fluctuations; availability/cost of raw materials and logistics; competitive packaging, pricing and substitution; changes in climate and weather; footprint adjustments and other manufacturing changes; failure to achieve synergies, productivity improvements or cost reductions; mandatory deposit or other restrictive packaging laws; customer and supplier consolidation, power and supply chain influence; changes in major customer or supplier contracts or a loss of a major customer or supplier; political instability and sanctions; currency controls; changes in foreign exchange or tax rates; and tariffs, trade actions, or other governmental actions in any country affecting goods produced by us or in our supply chain, including imported raw materials, such as pursuant to section 232 of the U.S. Trade Expansion Act of 1962; b) our aerospace segment include funding, authorization, availability and returns of government and commercial contracts; and delays, extensions and technical uncertainties affecting segment contracts; c) the company as a whole include those listed plus: changes in senior management; regulatory action or issues including tax, environmental, health and workplace safety, including U.S. FDA and other actions or public concerns affecting products filled in our containers, or chemicals or substances used in raw materials or in the manufacturing process; technological developments and innovations; litigation; strikes; labor cost changes; rates of return on assets of the company's defined benefit retirement plans; pension changes; uncertainties surrounding geopolitical events and governmental policies both in the U.S. and in other countries, including the U.S. government elections, budget, sequestration and debt limit; reduced cash flow; interest rates affecting our debt; and successful or unsuccessful joint ventures, acquisitions and divestitures, including with respect to the Rexam PLC acquisition and its integration, or the associated divestiture; the effect of the acquisition or the divestiture on our business relationships, operating results and business generally. of $50 million, or 15 cents per diluted share for business consolidation, debt refinancing and other non-comparable. $Xf�X� BĽ"�A�v���`T\� V��b��=L�Bg@&30����O 1� m To access the replay, call 800-633-8284 (North American callers) or 402-977-9140 (international callers) and use reservation number 21920272. Related people: John A. Hayes, Scott C Morrison. Additional businesses supporting non-reportable include aluminum beverage can manufacturing operations in AMEA and Asia. Charges for the first quarter of 2019 are for purchase accounting related intangible amortization and business consolidation costs. Ball management uses Net Debt to Comparable EBITDA and Comparable EBITDA to interest expense as metrics to monitor the credit quality of Ball Corporation. Find the latest Earnings Report Date for Ball Corporation Common Stock (BLL) at Nasdaq.com. h�b```�~������� endstream endobj startxref Ball reports second quarter results. These charges were recorded in the line equity in results of affiliates, net of tax in Ball's unaudited condensed consolidated statements of earnings. h�bbd``b`@�i�`_� Comparable Net Earnings is net earnings attributable to Ball Corporation before business consolidation and other non-comparable costs after tax. PRESS RELEASE PR Newswire . Contracts already won, but not yet booked into current contracted backlog, increased to $4.9 billion. Forward-Looking Statements Ball's Revolutionary Lightweight Aluminum Aerosol Technology, Ball received a perfect score on the 2016 Corporate Equality Index, Ball Announces $100 Million Accelerated Stock Repurchase, Ball Reports Improved Second Quarter 2017 Operating Results; Reaffirms Goals, Ball Corporation Declares Quarterly Dividend, See what's coming up and where you can find us, Key milestones since our founding in 1880, Generous benefits to attract, motivate and reward employees. First quarter segment earnings reflect low double-digit can demand growth across Europe offset by cost inflation, start-up costs and euro earnings translation. Such statements are based on current expectations or views of the future and are subject to risks and uncertainties, which could cause actual results or events to differ materially from those expressed or implied. A summary of the effects of the above transactions on earnings before interest and taxes is as follows: Add: Net earnings attributable to noncontrolling interests, Less: Equity in results of affiliates, net of tax. We have not provided guidance for the most directly comparable U.S. GAAP financial measures, as they are not available without unreasonable effort due to the high variability, complexity and low visibility with respect to certain special items, including restructuring charges, business consolidation and other costs, gains and losses related to acquisition and divestiture of businesses, the ultimate outcome of certain legal or tax proceedings and other non-comparable items. 5 min read. Q3 2020 Quarterly Report: Ball Memorial Hospital Foundation joins IU Health Foundation family IU Health Ball Memorial Hospital. Includes $63 million of cash and cash equivalents reported in assets held for sale in Ball's unaudited condensed consolidated balance sheet. Shares are down 2.7% since reporting last quarter. Quarterly results improved due to mid-single digit can volume growth and continued favorable category and specialty can packaging mix shift in the sparkling water, beer, wine, energy and spiked sparkling seltzer categories, and were largely offset by unfavorable U.S. aluminum scrap rates, a challenging ramp up for two of four lines at our new Goodyear, Arizona, facility and incremental costs to serve double-digit specialty can growth. Beverage packaging, Europe: Consists of operations in numerous countries in Europe, including Russia, that manufacture and sell metal beverage containers. Related core topics: Business news. Learn how Ball Aerospace has been a space and technology pioneer for more than half a century. Please use the following URL for a webcast of the live call: https://edge.media-server.com/m6/p/pri3eydh, For those unable to listen to the live call, a taped replay will be available from 11 a.m. Mountain time on May 2, 2019, until 11 a.m. Mountain time on May 9, 2019. Unaudited Condensed Consolidated Balance Sheets, Short-term debt and current portion of long-term debt, Notes to the Condensed Financial Statements (First Quarter 2019). Ball said that for the first six months, comparable segment operating earnings were $335 million on sales of $2.4 billion compared to $259 million on sales of $2.4 billion during the same period in 2019 Ball used growth investments and global plant network to meet strong demand for aluminum beverage cans. For more information, visit www.ball.com, or connect with us on Facebook or Twitter. Ball at a glance. Ball (BLL) reports earnings on 2/4/2021. quarter 2019 net earnings attributable to the corporation of $117 million (including the net effect of after-tax charges. Diversity & Inclusion Blog; About Ball. Ball's first-quarter 2019 comparable net earnings were $167 million, or 49 cents per diluted share, compared to $180 million, or 50 cents per diluted share in 2018. Beverage packaging, North and Central America, Reportable segment comparable operating earnings, Amortization of acquired Rexam intangibles. Key factors, risks and uncertainties that could cause actual outcomes and results to be different are summarized in filings with the Securities and Exchange Commission, including Exhibit 99 in our Form 10-K, which are available on our website and at www.sec.gov. Low-teens segment volume growth was unable to offset fully the previously disclosed conclusion of the third-party end sales agreement as part of the Rexam acquisition. Business Ethics Code of Conduct. Elon Musk's electric car maker previously reported deliveries of … A summary of the effects of the above transactions on after tax earnings is as follows: Add: Business consolidation and other activities, Add: Amortization of acquired Rexam intangibles, Add: Share of equity method affiliate non-comparable costs, Net earnings attributable to Ball Corporation before above transactions (Comparable Net Earnings), Per diluted share before above transactions. This compares to earnings of … We’ve helped explore the solar system and beyond. Due to continued growth, our 2018 facility expansions in Westminster and Boulder, Colorado, have been fully utilized and additional infrastructure growth capital will be deployed in late 2019 and 2020. BROOMFIELD, Colo., May 2, 2019 /PRNewswire/ -- Ball Corporation (NYSE: BLL) today reported, on a U.S. GAAP basis, first quarter 2019 net earnings attributable to the corporation of $117 million (including the net effect of after-tax charges of $50 million, or 15 cents per diluted share for business consolidation, debt refinancing and other non-comparable costs) or 34 cents per diluted share, on sales of $2.8 billion, compared to $125 million net earnings attributable to the corporation, or 35 cents per diluted share (including the net effect of after-tax charges of $55 million, or 15 cents per diluted share for the U.S. Tax Cuts and Jobs Act, business consolidation and other non-comparable costs), on sales of $2.8 billion in 2018. New lines in the company's existing Widnau, Switzerland, and Belgrade, Serbia, facilities began production in January. For detailed information on these items, please see the respective quarterly filings and/or earnings releases, which can be found on our website at www.ball.com. They should not be considered superior to, or a substitute for, financial measures calculated in accordance with U.S. GAAP and may not be comparable to similarly titled measures of other companies. Ball's first-quarter 2019 comparable net earnings were $167 million, or 49 cents per diluted share, compared to $180 million, or 50 cents per diluted share in 2018. "Growth trends in our packaging and aerospace businesses continue to gain momentum. Ball Corporation supplies innovative, sustainable packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Year-to-date the company hired more than 300 people into this business with an additional 600 employees required within the next twelve months. Ball reports second quarter results. A written transcript of the call will be posted within 48 hours of the call's conclusion to Ball's website at www.ball.com/investors under "news and presentations.". Non-U.S. GAAP Measures – Non-U.S. GAAP measures should not be considered in isolation. Ball’s fourth quarter 2019 comparable net earnings were $238 million, or 71 cents per diluted share versus fourth quarter 2018 comparable net earnings of $191 million or 55 cents per diluted share. The company recorded its proportional share of non-comparable costs of its equity method affiliate, Ball Metalpack. But the constant quest for innovation never ends. Overview . From looking back on our storied past, we’ve set a plan in motion for an even more promising future. Industry can demand in South America remains particularly strong as beer customers continue to shift packaging mix from returnable glass to aluminum cans. Weighted average shares outstanding (000s): Unaudited Condensed Consolidated Statements of Cash Flows, Cash provided by (used in) operating activities, Cash provided by (used in) investing activities, Net issuances (purchases) of common stock, Cash provided by (used in) financing activities, Effect of currency exchange rate changes on cash, cash equivalents and restricted cash, Change in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash - beginning of period, Cash, cash equivalents and restricted cash - end of period (a). The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Beverage packaging, South America, comparable segment operating earnings for the first quarter of 2019 were $68 million on sales of $441 million, compared to $98 million on sales of $459 million during the same period in 2018. Ball Reports Strong Third Quarter Results . The market expects Ball (BLL) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2019. The company's announced sale of its Chinese beverage can assets received antitrust approval and the transaction is expected to close in the second half of 2019. We anticipate that these near-term cost pressures will moderate in the second half when new lines complete learning curves and more favorable contractual terms become effective, as well as in 2020 and beyond," said John A. Hayes, chairman, president and chief executive officer. BROOMFIELD, Colo., Aug 6, 2020 – Ball Corporation (NYSE: BLL) today reported, on a U.S. GAAP basis, second quarter 2020 net earnings attributable to the corporation of $94 million (including net after-tax charges of $122 million, or 37 cents per diluted share for business consolidation and other non-comparable items) or 28 cents per However, some companies follow a different financial calendar and report year-end figures at different times. Our executive team. … View original content to download multimedia:http://www.prnewswire.com/news-releases/ball-reports-first-quarter-results-300842453.html, Investor Contact: Ann T. Scott, 303-460-3537, ascott@ball.com; Media Contact: Renee Robinson, 303-460-2476, rarobins@ball.com, Please see the company's website for further details of the company's non-U.S. GAAP financial measures at, Less: Amortization of acquired Rexam intangibles, Electronic Delivery of Annual Meeting Materials, Ball.1Q2019EarningsNR_Financials.final.050219, http://www.prnewswire.com/news-releases/ball-reports-first-quarter-results-300842453.html, CALIFORNIA TRANSPARENCY ACT & UK MODERN SLAVERY ACT STATEMENT. Should not be considered in isolation sale, non-reportable results are expected to improve in... Stock ahead of earnings during the first quarter results Belgrade, Serbia, facilities began production in January forward-looking. Company incurred charges for compensation arrangements associated with the transaction discover the many ways place. Company incurred charges for compensation arrangements associated with the Rexam acquisition and integration beverage. 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